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Business deals

Toshiba Memory to buy Taiwan storage device maker for $165m

Chipmaker seeks greater share in solid state drives with Lite-On deal

Toshiba Memory produces flash memory chip at its Yokkaichi plant. The company wants to strengthen its operations in solid state drives that incorporate the chips. 

TOKYO -- Toshiba Memory Holding will buy the solid state drive business of Taiwan's Lite-On Technology for $165 million, the chipmaker said Friday, looking to bolster operations with an eye on a possible stock market debut.

The acquisition is expected to close by the first half of 2020. Lite-On is a key buyer of Toshiba's NAND memory chips, which it uses to build the drives. It also produces parts for servers, computers and automobiles.

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